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It depends. The passive activity losses (PALs) carried over to your Schedule E will be used to reduce profit and any remaining balance to carryforward will be on Form 8582. Review that form and then update if you are still unclear about the numbers on your tax return from the Schedule E to the Form 8582 and Form 1040, from Schedule 1.
From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)
For TurboTax Desktop, change to 'Forms' and review the forms
You have access to all forms when you choose to print your return in TurboTax Online/Mobile. However you are required to pay before printing, but do not have to file until you are ready.
If you are using TurboTax Desktop you can switch to Forms and review all forms and worksheets.
Please update here with details and we will help if you need additional assistance.
The Wages and Income Summary page displays different numbers than are reported on your tax return. Applied passive losses are one adjustment that isn't shown on this page. Refer to the actual Schedule E in the PDF of your return to confirm the carryover loss was applied correctly.
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